Regions Financial Co. (NYSE:RF) Stock Position Lifted by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its stake in Regions Financial Co. (NYSE:RF) by 282.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 321,840 shares of the bank’s stock after buying an additional 237,601 shares during the quarter. Sanctuary Advisors LLC’s holdings in Regions Financial were worth $7,509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Geode Capital Management LLC grew its stake in Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Compass Point boosted their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI increased their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average price target of $27.61.

Regions Financial Price Performance

NYSE RF opened at $25.11 on Friday. The stock has a market capitalization of $22.82 billion, a PE ratio of 14.19, a P/E/G ratio of 2.64 and a beta of 1.19. The stock has a 50-day simple moving average of $25.11 and a 200 day simple moving average of $22.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. Research analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.98%. Regions Financial’s dividend payout ratio is 56.50%.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.